Australian shares closed near 14-month highs as upbeat economic data from the US and China supported hopes of a global economic recovery.
US stocks rallied to more record highs while Asian markets open mixed but gain later in the day
London’s FTSE 100 crossed 7,000 points on Friday to reach its highest level since February last year as investors piled into the “value” sectors that feature heavily in the UK blue-chip index. The FTSE closed up 0.5 per cent at 7,019, breaching the 7,000 threshold for the first time since the coronavirus crisis swept through Europe, led higher by financials, basic materials and industrial stocks. Similar bets were visible on Wall Street, where the S&P 500 was up 0.4 per cent to a new record at the market close in New York, with basic materials the top-performing sector of the blue-chip index.